Dutch Firm To Buy Supermarket Chain

Amsterdam-based Royal Ahold NV expanded its U.S. supermarket presence Thursday in a surprising $2.9 billion deal to buy its sixth chain - Stop & Shop, the biggest grocery retailer in New England.

The proposed merger, which requires regulatory approval, would make Royal Ahold one of the top five supermarket operators in the United States. The company already owns Tops, Finast, Edwards, Giant Food Stores and BI-LO.